GM Financial improves planning and reporting with Fusion Cloud Applications
Auto finance company replaces manual spreadsheets and consolidates three planning platforms, reducing support costs by nearly $400,000 a year.
United States | Financial Services
“Before Oracle Cloud EPM, we had to aggregate and cleanse data manually and deliver reports through spreadsheets. Now we have a single source of truth that lets us provide reporting faster, with greater accuracy and consistency. That means decisions happen at the right time, by the right people, for the right reasons.”
About GM Financial
GM Financial is the captive finance subsidiary of General Motors, providing vehicle financing through dealerships worldwide.
GM Financial Puts Dreams onto Driveways with Oracle Fusion Cloud EPM
Business problem: Growth outpaced manual planning and reporting
As GM Financial expanded, planning, costing, and reporting relied on multiple systems, spreadsheets, and manual work. Teams extracted data from three financial applications and additional databases, reconciled it manually, and assembled executive reports by hand.
The process was time-consuming, error-prone, and difficult to scale.
Solution and results: Consolidated planning in the cloud with governed data and dashboards
GM Financial selected Oracle Fusion Cloud Financial Management and
Oracle Fusion Cloud Enterprise
Performance Management (EPM), both part of Oracle Fusion Cloud
Finance and
Accounting, to unify financial execution, planning, and analysis on a
single platform for better decision making.
Financial Management
Oracle Cloud Financial Management serves as the transactional system of record, while Oracle Cloud EPM supports planning, forecasting, workforce modeling, and performance analysis. GM Financial also references its Oracle Fusion Cloud Human Capital Management (HCM) implementation to support alignment between HR and finance for workforce planning and talent strategy.
Enterprise Performance Management
Using Oracle Cloud EPM, GM Financial consolidated
planning and reporting into one environment and replaced three separate
platforms. International operations, North America, and Canada standardized
planning, activity-based costing, cost analysis, and product profitability
modeling in a single EPM suite. Data that previously required manual extraction
and cleansing is centralized and governed, and executives use role-based
dashboards instead of static spreadsheets.
With the new system in place, business rules execution was reduced from hours to minutes; three planning and reporting platforms were consolidated into one; and annual technology and support costs were reduced by approximately $400,000 versus the previous system. Additionally, the company reported these outcomes, expanded user access without adding systems or instances, reduced manual reconciliation and spreadsheet-based reporting, and improved accuracy and consistency through a single finance platform.
Looking for continued process improvement, GM Financial has a roadmap to use predictive planning and machine learning capabilities in Oracle Cloud EPM.